GOVERNMENT spending will be driven by purpose, not profit.

Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, says government spending cannot be treated the same way as a business expense and must instead focus on delivery, long-term vision, and inclusive development outcomes.

Speaking at the Post Budget Breakfast held at the Grand Pacific Hotel, Prof Prasad said the Government is moving away from a “business-as-usual” approach to one that prioritises timely and efficient implementation of budgeted projects.

“We are saying to ourselves in government, business as usual is not going to work,” Prof Prasad said.

“There has to be a sense of urgency, there has to be a sense of speed, efficiency and effectiveness in delivering the commitments in the budget.”

He said essential infrastructure projects, such as water upgrades, must be delivered within the current budget period to meet expectations.

“If we are saying we need water infrastructure to be completed in this budget or partially completed, then it must happen in this budget. Period.”

Prof Prasad also addressed the government’s long-term fiscal strategy, stating that the aim is to reduce Fiji’s debt-to-GDP ratio to between 50 per cent and 60 per cent over the next 10 to 15 years.

Achieving this, he said, would require sustained economic growth of at least 5 per cent each year.

He linked these targets to Fiji’s broader development ambitions, including the government’s goal of reaching high-income status by 2050, as outlined in the National Development Plan.

“You have to know your ‘Hastinapur’, where you want to go in 20 or 30 years.

“I think we’ve done that very effectively.”

Prof Prasad added the last two national budgets are aligned with the long-term objectives outlined in the plan, and that ministries and departments are expected to implement their budgeted responsibilities with urgency and accountability.